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is that if the white house says we are not negotiating on the debt ceiling, what's your plan bn. >> right. right. exactly. there's would plan bs. 14th amendment that could say look, it is -- unconstitutional the debt ceiling ruled that out and could have ruled out the platinum coin. which they didn't do. i don't think it means they would do it. i don't think they would ultimately do it. can't come to that. look like a banana republic if we have the executive branch printing trillion dollar coins, treasury to pit our bills p.m. rightly says congress has to raise the debt limit. in a vacuum it works. legally it works. in reality if we were to do it we would look like a laughingstock internationally. global markets would not like this. would look like we cannot deal with the fiscal situation. i think it would be a disaster. >> this is a calamity result of -- sort of counterproposal versus what some would argue would be just as horrible for the markets by not raising the debt ceiling. >> no question. there was a time in history before -- before i was -- at the white house, i was assistant secretary
when we hit the debt ceiling right. >> the debt ceiling coming up. debt ceiling in fiscal cliff has now become 2013 issues. but us talk about another winner. this of facebook shares rally above $30 a share. we are on our way up it is a winner for facebook. >> the ipo had people screaming like a scalded champ. it is up 10% this year so it's a matter of when did you buy it. after announcing a mystery press conference for tuesday next tuesday the 15th. i looked at their peak about 160. that is pretty expensive. they got something. they have this do it hasn't called yet. >> maybe it could be a retail announcement that they have. maybe it will be a fall, streaming, or games. a lot of people are expecting that will show off their new building. >> i think it will be a new hoodie. >> let us talk about a loser bridge piers is leading the x factor after one season. she met a lot of money after one season. >> if she did you hear what is it? >> no. >> she said i quick y'all. >> to the new paula abdul is she? beating she is working on an album with will iam. >> $15 million per season. i quick y'all.
with the debt ceiling, he is the right person for this job. there is some resistance. republican senator, jeff sessions, saying he should never get the job because he misrepresented the president's 2012 budget during testimony before the senate by saying the budget should not add to the debt. you always find, when the president puts forward a name like this, there is some push back. we are seeing that even before the president officially makes the announcement. nonetheless, jack lew, widely expected to get confirmed. >> i am sure we are only beginning to hear the bonafides and the criticism. it's his signature. if he becomes the treasury secretary, that thing is go to be everywhere. it is that series of crazy loop deloos. aren't they talking about this being an issue? >> i thought mine was bad but that's a lot of little loops there. it is unclear whether they will have to send him to school again to figure out how to write his name so you can read it when it shows up on the currency. timothy geithner had kind of a loopy signature in the past and then said that he had to tweak it whethn it show
. no learning curve. he is dropping right into the debt ceiling debate. very weird because geithner's leaving. he's got to get into it. for the immediate problem he seems eminently qualified, michael. >> heck of a job. his tenure at citigroup, he was at city group, has raised concerns in some quarters. the coo, chief operating officer, of the alternative investments unit. >> yes. >> but that basically was a unit that bet against homeowners paying their mortgage, picked up a nice million-dollar bonus check. citi was bailed out. how's that going to go over? >> that's going to come up. on one hand, you could say, hey, i understand wall street, i understand how it worked. i was in on that, as well. clearly he'll get tough questions. i don't think he's in for a rough ride in the nomination process, confirmation process. it's the treasury secretary the president's going to largely get who he wants. but it's funny because the general response on wall street isn't that he was one of us. it's that he hasn't had much wall street experience. they don't like him that much. they don't feely had has a good
. and you can't go that far. neil: we'll do that with the debt ceiling? don't you think we'll do that with this two month extension we got with the automatic spending cuts? we'll do that again, right? >> the leverage they have to debt ceiling that get to spending cuts, debt ceiling will be there you have to adjust it somehow, let's get to spending cuts. gross domestic product is -- >> the president said we don't have a spinnin spending problem. congressional black caucus said leave the entitlements alone. and with show much left off the table and feeling emboldened by polls that say keep sticking it to the rich. when are they going to do anything. >> that is the problem, you have to cut on some indict illment, and you have -- entitlements. neil: i know you are right, but the democrats fils feel the wins thwind isat their back. >> the issue is any spending increase, and any tax cut has to start in the house of representatives. when you give that up. >> game over, joe, now. you talk about the balance of tax hikes. >> in terms of tax hikes? my friends are not going to like this on w
know it looks like a long shot right now but depending on how the debt ceiling negotiations go, depending on what -- how much of a disaster the republicans look like, i think there's a real possibility that in 2014 that could happen. >> and then we could have -- then we could have change as you were saying once democrats are in control of everything. >> yeah, yeah. toure gets that disconnect there. the only action of obama in the first term to make it easier to bring them in to national parks but i think in the nra's mind, you know that scene from "the american president." michael douglas says, i'm going to get the guns. and it's the nra. obama's just waiting to do that. >> it's like the clint eastwood thing. talking to a chair, an imagined obama. not talking to the real obama. not criticizing a real obama and possible and they're criticizing an imaginary obama. hee's a -- >> what i was saying -- >> not intentionally. >> what i think the -- what i would say politically the nra would say is they have to do this to restrain him from saying i'm going to get the guns. there are lib
the authority to raise the debt ceiling without congress? will he tried to? our handwriting expert is digitalis about the most talked-about signature. will it end up on our dollar bill? can you read that? >> from that fox business studios in new york city, it's "the willis report" with gerri willis ♪ gerri: as the debt ceiling showdown, members of the financial services round table now headed by former gop presidential candidate temple in tay are urging congress to raise the debt ceiling. failure to do so will cause a wire. will republicans caved? always great to have you on this show. what do you make of this? these and other business leaders of this country who are saying, you have to raise that debt ceiling. >> a little hypocritical. these business leaders of the same ones to say we have to do something about our enormous debt, and what will cause a wire to our nation's finances continuing to go around borrowing a trillion dollars year after year after year. the phony issue, people are saying if we don't pass the debt ceiling it's a default. that is off the table. the constitution prevents
on the debt ceiling. you've got guys like mcconnell and boehner say -- >> you may be right. the restoration of the old northwest republican party under the leadership of chris christie. somebody's got to bring it back which you're part of. you don't act like it sometimes. you're going to be one of them. wouldn't you like to be press secretary to chris christie of the united states? what a job. >>> what's wrong with this picture? here's what a gathering of president obama's top cabinet officials and aides might look like. a lot of people are looking at this saying where are the women and minorities? the group that put the president back in the white house. >>> also could the answer to the gop's problems be found somewhere in the swamps of jersey? sounds like the colonial wars. that's a bruce springsteen reference. now one of the biggest fans is chris christie. he may be what they need to break out of their super religious people. here's my question. how does a pragmatist like christie get through a tea party driven primary season. >>> christie wants to save the party from itself. republicans
the debt ceiling crisis. >> we should have known a coin was obama's solution to everything. it was right there in his slogan. change. [ laughter ] >> bret: so clever. thanks for inviting us into your home tonight. that is it for this "special report." fair balanced and unafraid. it t. is webs so "special report" online starts in 5 seconds. >> this is the fox report. tonight disturbing self-photographs of the movie massacre suspect. disturbing pictures they say they found on his phone. plus a crowded ferry slams into a pier. commuters tossed about by the dozens hurt. >> all of a sudden there was this loud bang and my catapulted to the seat in front of me. >> shepard: hundreds of people on board when it happened. >> hundreds stairs. >> screamed call 911. >> now an investigation into what went wrong. a flu outbreak hitting all across the country. reports of people turned away from hospitals. >> so we're seeing an early spike, at least compared to the last five or six years. this is very early and we don't know what the peek is yet. >> shepard: before it all ends they say thousands could die
of the debt ceiling debate the trillion dollar coin is being tossed around as a way to avoid any standoff between the two sides. the idea is that the treasury company mint the coin, deposit it at the federal reserve so that the government can pay its bills, but noted economist jim grant thinks it's a bad idea. does have his own solutions to this looming crisis. jim grant joins us from grant interest rate observer. great to see you. happy new year. thanks for joining us once again. you don't think this trillion dollar coin is the answer. >> that is an urban legend. >> yeah. >> okay. what we need to do i think, first of all, is to speak clearly about this problem we this, this debt problem. for example, secretary of the treasury is not the secretary of the treasury. it is secretary of the debt. there are being no net treasurer in the treasury so we must be clear about that. we use the word trillion. $1 trillion is a million million. $1 trillion is an incomprehensible number we throw around and it numbs us, and we must speak of it in a weight. so $1 trillion is 22 million pounds of 100 bills
didn't raise the debt ceiling, we did, it's because of the lack of seriousness in tackling the problems, and $1 trillion coin, i think exhibits the ultimate lack of seriousness. >> this administration gets people's attention in the wrong ways through class warfare. and many will think if this is possible, we ought to do these sort of things. >> you know, you can't -- by the way, i could spend time in the weeds telling you why legally you can't do this. why the federal reserve does not buy assets from the mint. the mint prints dollar bills to replace old dollar bills. that's all they do. and the mint can create coins for the treasury department. and by the way, none of this stuff is legal tender. >> and it's never going to happen anyway. >> okay. so i'll ask you a question, karen finney. let's stay with this. instead of this stupid coin idea, instead of this utterly stupid banana republic coin idea, why don't we get serious and start cutting spending? in fact, why don't we get, a, a budget out of the senate democrats for the first time in four years and, b, implementation of the across t
, witnessed in the 2011 debt ceiling fight. how do you think it plays out with the debt ceiling fight and the sequestration and the budget? >> yeah, well, i think it is very troubling because, you know, one of the conversations we've been having is that there has to be more compromise in washington if we're going to get through some of these things, and i think that this -- choosing him as treasury secretary sets us up for some very bitter fights. you know, he has basically blamed the republicans all along as the president has, and, you know -- for example, he's blamed the republicans in the senate for not passing the budget. that's completely wrong. the budget is a privileged piece of legislation that doesn't require 60 votes to get through. that's something that the democrats can do. but he wants to achieve the president's goal and he will fight the republicans every step of the way. i don't think he's interested in in any compromise. connell: he's a big part of those fights, maybe not this most recreent -- recent time, b the previous go around. >> also on the ceiling and sequester
bargainer and was involved in the debt ceiling with congress back in 2011 and, of course, the recent fiscal cliff talks. republicans aren't excited about the pick but it's unlikely they'll be blocking that nomination. keith, back to you. >> all right. thanks hampton. >> you got it. >>> we introduced you to a wonderful young man who was really hoping a family would come forward to adopt him after his appearance on "wednesday's child" last spring. we think the right family didn't happen to be watching so we want you to have an opportunity to meet ronald again. there was a chef's coat and an apron and finally, the making ronald ready for his first real lesson in cooking. >> you ever worked with pan he ta before? >> this chef of the art institute of washington's culinary school was giving ronald, an aspiring chef, a lesson in making pasta carbonera. his social worker says being a chef is one of the dreams that he has for the future. but she says he'd really like a future that would include an adoptive family. >> he's a sweet kid. the thing that's so amazing about him is he really wants to do we
to negotiate when he was talking about the debt ceiling. he has positions and doesn't give much ground although he is really nice person. he added that at the end of the people seem to like him. if he is tough negotiator is now the time to have someone like that when we're trying to build some consensus and we have go sides that are always very far apart? >> the way i view it, simply he reflects the president. i think the president has been a tough negotiator. certainly when you look at the fiscal cliff deal, it does seem that the president won most of that battle. so i would suspect that jack simply reflects the president. and that seems to be the way we're going to go forward, as someone in the financial markets. that is what i have to take it at face value, whether it is good for bad overall for the economy over the long run, it just doesn't seem to be all that important right now. what seems to be important is, the position of jack and the president seems to be, defending the spending numbers, and being very, very cautious about tax cuts. melissa: yeah. senator jeff sessions from alabama is
it probably extends at least to the weekend press cycle when the debt ceiling debate will most likely reemerge, but i think the fundamentals for tomorrow are strong. you'll see some carry forth in commodities and equities. treasury supply is right out of the way, so treasuries might bounce a little bit ahead of the fed buyback program next week. but earnings so far have come out pretty solid. expectations are ratherrer modest given the fiscal cliff from last quarter and earlier this month. so really i think we'll probably trade a little higher tomorrow, but you could see some profit taking the last hour or so. ashley: all right. john brady, rj o'brien managing director. thank you so much from the cme. let's bring in our market panel now, david fleischer and jack ablin. john just said, look, so far earnings have been, well, solid, but let's face it, the bar is pretty low, so i don't know how much you can read into that. you are moderately bullish. so what is your expectation for the first quarter and the rest of the year? >> well, i'd say overall for the year we are cautiously optimistic. we th
parties in the past have grandstanded about the debt ceiling, but both parties in the end knew they had to provide the votes so we would not default. what i'm arguing is we in congress should reinstate the gepart rule. that said when congress voted on a budget. let's say the war in afghanistan or iraq that was on the credit card. then the debt ceiling would automatically been adjusting up or down. so there's a unity between spending money and the obligation to pay debt. >> stephanie: yes. somebody said yesterday that if there was a foreign entity killing 10,000 americans a year we would be in a war somewhere. so when we talk about gun violence in the united states -- here is joe biden yesterday. >> i want to make it clear that we are not going to get caught up in the notion unless we can do everything we're going to do nothing. it's critically important we act. the president is going to act through executive orders executive action can be taken. we're compiling it all with help of the attorney general and all of the rest of the cabinet members. as well as legislativ
running. the debate is about the debt ceiling. ke sequester and budgets. no learning for lew. he is qualified to take on the budget battles about to engulf washington right now. on the money menu, china sees trade soar in diagram. before you change the channel, understand that china's gain is a sign that things are picking up here in the united states. exports jumped 14% at the end of the year compared to 12 months ago. that's important because the economy has been slowing down for seven quarters likely because of malaise. i have been saying things are starting to look up for the u.s. economy in 2013 and a boost in imports is one of the indicators that tend to confirm the sentiment. the one thing that could ruin this is the battle on capitol hill. democrats and republicans resulted to tactics that cost the u.s. the iron clad credit rating. the economy suffered. president obama will want the tax revenue hikes to any spending cuts that republicans insist on. to do that they would have to tap into politically sensitive deductions and for perspective, the deducks and exclusions cost
with you. the president will go around congress. if he can't get a debt ceiling, raise the debt ceiling i think he will invoke the fourteenth amendment which says the debt must be paid, he will go around congress, invoke the fourteenth amendment and say keep on spending, keep on borrowing. >> he may very well do that but that is because the republicans refuse to define the issue. instead they are defending the issue. when the conservatives or the republicans are not defining they are losing. the republicans have a chance to take the cbo numbers and define the issue and put it back on barack obama. if they do not do that then barack obama wins the day and america loses. stuart: that is exactly what is going to happen. i am sorry we are out of time. thanks for joining us and i am sure you will be waiting eagerly for governor brown's budget to be released later today. >> thank you for that. stuart: mike reagan, thanks very much. stock early on entitlements. my take on food stamps and children is next. >> announcer: you never know when, but thieves can steal your identity and turn your life u
, put it right there in the middle with the debt limit. i'm not sure what the reasoning there was. >> the president has said that he will not negotiate over the debt ceiling. is it conceivable that republicans will say, fine, we'll send the debt ceiling but the sequester we're not budging on? >> what i think is going to happen is there's going to be a big -- there's going to be epic fight over the debt limit. and ultimately i don't think the republicans are going to win that because i don't think the public, and by the way, nor the business community, agrees that using the debt limit as a method of pushing the united states to the very edge of default -- >> why not say go ahead, we're not going to win that on a pr fight? >> when all of the fighting is kind of winding down, there's the sequester $1.2 trillion of spending cuts. that's a lot. as i said earlier you add it up it comes to $3 trillion over the last year and a half. that's also a lot. i think the most likely scenario is that the sequester goes ahead. now remember, congress can undo it any given moment that it decides to p
and the democrats are fighting over the debt ceiling. liberals say, debt ceiling is a fiction, it's not even real, it may be the law, but it's antiquated, out of date. that's where we are now on the second amendment, where you hear people like andrew cuomo in his state of the state speech in new york last night. >> megyn: can i interrupt you on that, nothing you were going to go there, we cued up this sound and chris is going to make his point about this sound. listen to the governor of new york and we have bill clinton here, too, as well who you mentioned in power play. listen to them. >> i say to you forget the extremists, it's simple, no one hunts with an assault rifle. no one needs ten bullets to kill a deer. and too many innocent people have died already. end the madness now. i grew up in-- culture, but this is nuts. why does anybody need a 30-clip, a 30-round clip for a gun. why does anybody need one of those things that carries a hundred bullets. >> megyn: some bill clinton's was a little garbled, but why does anybody need one of those things that carries a hundred bullets. the guy in colo
connell will somehow make him less likely to deal with democrats when it comes to the debt ceiling? >> first i would like to thank brent because all of this is great for sales of the book. it shows how you have a republican party that has a large faction, the dominant faction that has moved to the fringes of american politics and compromise is out of bounds for them. for mcconnell there's a real dilemma here that has two components to it. the first is he is up for reelection in 2014 in a state where he is no longer the king maker. he did everything he could to keep rand paul from winning nomination two years ago, and failed miserably. now he has hired paul's campaign manager, has his own campaign manager, but he has to worry a little bit about pressure from the right. and john boehner has pretty much taken himself out of the lead-dog role in negotiating with the administration and that makes it fall back on o'connell for the fiscal issues immigration, probably guns and a host of other issues where everything that mcconnell does to reach a deal -- look at that fiscal cliff
Search Results 0 to 30 of about 31 (some duplicates have been removed)